How to Open A Private Investigation Business

To open a private investigation business, you must follow a few simple rules in order to get going. The process of opening your own business involves getting the proper licenses, getting bonded in some areas, and having the industry know-how to get clients and keep a steady flow of business in the door. Below is some information to help you get your own private investigation business up and running.

Suggestions

1. Become a private investigator. To start your own firm, you must have a PI license. Although it isn't a requirement to have experience, it is recommended that you have at least 3 to 5 years of field training under your belt before opening your office. In all states except Colorado, Mississippi, Missouri, Idaho and South Dakota, where commercial private investigation is not allowed, becoming a private investigator involves completing some classroom study and passing a state test (see Resources below).
2. Get the proper business licenses. Contact your Secretary of State and city Treasurer's offices to determine whether you need a general business license. Obtaining a business license is a fairly simple process; however, some states and city governments have different guidelines. Obtain the proper application forms, and complete the application process carefully. Expect to pay at least $50 or more for each business license you obtain.
3. Find a location. A private investigator can operate anywhere. Find an office that's comfortable and easy for your clients to find. Depending on the size of your firm, a small office with a few private offices and a reception station should suffice. Work with a reputable real estate professional.
4. Build a solid book of referrals. As a private investigator, the bulk of your business will likely come from referrals. Get to know attorneys, insurance agents and other businesspeople. These contacts often need investigative work done on a regular basis and will refer you clients if you do good work.
5. Hire a staff. Hire at least one person to answer your phones and run your office when you are in the field. Depending on your goals and experience, you may also hire a staff of PIs. Look for investigators with a minimum of 3 to 5 years' experience and solid books of business. If you can't afford to hire a full-time staff, use PIs willing to work as subcontractors.
6. Advertise. Print advertising in telephone directories and service sections in newspapers is effective for investigation firms. Ads in trade publications are also good ways to get business. Spend advertising dollars wisely. Most of your business will come from word of mouth; however, print ads provide a good promotional mix.

Tips

• Incorporate your firm. Form a corporation or LLC. This will allow you to operate as an official business entity (see Resources below). Be competitive with rates. Most private investigators make anywhere about $50 an hour or more, depending on their experience and capabilities. Research your market. Attorneys and insurance companies that hire PIs regularly can give you an idea of what a good investigator can charge. Purchase a surety bond, if needed (see Resources below).
• Always obey the laws when investigating. Leave work only police can do to law enforcement. Don't step on toes, and operate only within the boundaries of your license.

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